City of Charlotte Releases Proposed Fiscal Year 2024 Budget
Published on May 01, 2023
CHARLOTTE, N.C (May 1, 2023) – City Manager Marcus D. Jones on Monday presented his Proposed Fiscal Year (FY) 2024 Budget to the Mayor and members of City Council.
“The City of Charlotte has a very strong financial foundation, built upon years of sound financial management. Over the last several years, the city has shown commitment to optimizing the use of funds and continually reassessing the needs of a growing city,” said City Manager Marcus Jones. “Our focus has been and continues to be providing exceptional core services to our neighbors and addressing community needs that have been identified through City Council’s priorities and key initiatives, while not putting an additional burden on our residents. We all understand the economic challenges faced by many in the past few years. I am proud that the budget we are proposing maintains a revenue-neutral rate, is built without a city property tax increase, continues our commitment to be a well-managed government, and invests in our residents and employees.”
Highlights of the proposed FY 2024 budget include:
- A balanced and fiscally responsible budget that:
- Does not increase taxes.
- Does not lay off or furlough employees.
- Maintains or enhances core services.
- Maintains operating reserves.
Transportation and Planning
- Allocates $300,000 toward maintaining the Bike Share program.
- Supports Corridors of Opportunities with a $5 million dollar investment for implementation of playbooks, continued engagement, and partnerships.
Although there is no city property tax increase, the proposed budget does include three service fee increases – Solid Waste ($0.72 monthly increase), Storm Water (4.6% which equates to a $0.43 monthly increase for the typical customer) and Water (4.25% which equates to $3.10 monthly increase for the typical customer).
The proposed budget will have a public hearing on May 8, followed by budget adjustments on May 11 and straw votes on May 25. Council will consider the budget for adoption on June 12. The 2024 fiscal year begins July 1, 2023.
To learn more about these and other important initiatives of the proposed FY 2024 budget, please visit charlottenc.gov/budget.